Texas Wealth Advisers

Disability Insurance Cullen Park, TX

For the most part, it’s very easy to take for granted your good health. Many of us go about our day-to-day without a second thought to how drastically different tomorrow can be. You have your health and well-being now, but life can change in an instant. An illness or an accident can happen in a split second. Do you ever wonder “how can I ensure against loss of income” or “what is disability insurance”? If you were unable to work as a result of an accident or illness, what would you and your family do for income? Do you have disability insurance? If you needed to, do you know the specifics of applying for disability insurance? Do you know what a good disability insurance quote looks like? If the answer is no, or you are unsure of your answer, you need the help of our team at Texas Wealth Advisers in Cullen Park, TX.

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Applying for Disability

While some employers do offer disability and employer-based disability insurance is required in some states, Texas does not require short-term disability insurance. At least for non-government workers. Sometimes, even if you have this type of insurance from your company, it still isn’t enough to pay your bills. Most people wind up losing their jobs because of this and having to rely on unemployment. Therefore, you must be proactive and protect yourself against loss of income in the face of disability.

For most workers, even those with some employer-paid coverage, an individual disability income policy is the best way to ensure adequate income in the event of disability. When you buy a private disability income policy, you can replace from 50% to 70% of your income. Insurers often won’t replace all of your income, because they want to incentivize you to return to work. What’s worse about getting disability insurance from your company is that your disability benefits from them are subject to income tax. When you invest in an individual income policy and you pay those premiums yourself, your benefits are not taxed.

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Disability Insurance Quote

It’s very easy to go online, plug in “disability insurance quote” and generate hundreds of guestimate websites. None of them are personalized to you, however. Texas Wealth Advisers will walk you through the best policy for you in Cullen Park, TX and the surrounding areas. We continue to help you find ways to potentially further your income while you are on bed-rest or out of work.

Texas Wealth Advisers will be your guiding hand in picking out the policy that is right for you. If you are currently out of work due to an injury or illness or want to start applying for disability, now is the time. We’ll help you sleep better at night knowing you and your family won’t be further impact by misfortune.

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What is Disability Insurance

But what is disability insurance? Let’s recap the different types of ways you can get disability insurance in Cullen Park, TX. This will help you understand what you already have when you’re applying for disability insurance or looking for a disability insurance quote. There are three basic ways you can replace income when you are unable to work due to injury:

  1. Employer-paid disability insurance. This is required in most states. Most employers provide some short-term sick leave. Many larger employers provide long-term disability coverage as well. Typically with benefits of up to 60 percent of salary lasting from five years to age 65, and in some cases extended for life.
  2. Social Security disability benefits. This can be paid to workers whose disability is expected to last at least 12 months and is so severe that no gainful employment can be performed.
  3. Individual disability income insurance policies. Other limited replacement income is available for workers under some circumstances. These can come from workers compensation (if the injury or illness is job-related), auto insurance (if disability results from an auto accident) and the Department of Veterans Affairs.

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